Renault unveils small car Kwid

Renault unveils small car Kwid. To take on Maruti and Hyundai in the entry-level car segment, French auto major Renault on Wednesday unveiled Kwid that will hit the market priced between Rs 3 lakh and Rs 4 lakh around the festive season this year.

To be priced from 3 lakh, the new car is set to take on Maruti Alto, Hyundai Eon

Chennai: To take on Maruti and Hyundai in the entry-level car segment, French auto major Renault on Wednesday unveiled Kwid that will hit the market priced between Rs 3 lakh and Rs 4 lakh around the festive season this year.

Developed at an investment of around Rs 3,000 crore, the SUV-shaped small car will be powered by an 800cc petrol engine. The company is looking to make India a regional hub for exporting the new car.

"The Kwid will be a game changer and it will be in the entry-level segment that accounts for 25 per cent of the Indian car market today," Renault Group Chairman and CEO Carlos Ghosn said here while unveiling the car. He said Renault has set a target of cornering 5 per cent market share in India and Kwid will play a big role in it.

"Renault Kwid will be a big contributor to our India growth story first, secondly in other emerging markets and then globally," Ghosn said, adding, "For Renault brand the milestone (for India) is 5 per cent market share. Today we have 1.5 per cent market share."